Artificial Intelligence is the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages. If the computers can, somehow, solve real-world problems, by improving on their own from past experiences, they would be called “intelligent”.
Thus, the AI systems are more generic(rather than specific), have the ability to “think” and are more flexible.
Artificial Intelligence Permeation
Artificial Intelligence (AI) is rapidly permeating many aspects of our lives. It is being used in industries such as healthcare, finance, education, transportation, and more. Here are some examples of how AI is permeating different sectors:
Healthcare:
AI is being used in healthcare to improve patient outcomes and reduce costs. It is being used in areas such as medical imaging, drug discovery, and personalized medicine. AI algorithms can analyze medical images and help doctors diagnose diseases such as cancer. AI is also being used to develop new drugs and treatments. Personalized medicine uses AI algorithms to analyze patient data and develop personalized treatment plans.
Finance:
AI is being used in finance to improve risk management, fraud detection, and customer service. AI algorithms can analyze financial data and identify trends and patterns that are not visible to humans. This can help banks and other financial institutions to make better decisions and reduce risks. AI can also be used to detect fraud in financial transactions and to provide personalized customer service.
Education:
AI is being used in education to personalize learning and improve student outcomes. AI algorithms can analyze student data and provide personalized recommendations and feedback to students. This can help students to learn at their own pace and in their own style.
Transportation:
AI is being used in transportation to improve safety and efficiency. It is being used in areas such as self-driving cars, traffic management, and logistics. Self-driving cars use AI algorithms to analyze data from sensors and cameras to navigate roads and avoid accidents. AI is also being used to optimize traffic flow and reduce congestion.
Manufacturing:
AI is being used in manufacturing to improve efficiency and reduce costs. It is being used in areas such as predictive maintenance, quality control, and supply chain management. AI algorithms can analyze data from sensors and machines to predict when maintenance is needed and to prevent breakdowns. AI is also being used to improve quality control by identifying defects in products.
Customer Service:
AI is being used in customer service to improve the customer experience. It is being used in areas such as chatbots, voice assistants, and recommendation engines. Chatbots and voice assistants can provide personalized assistance to customers and help them to find what they are looking for. Recommendation engines can analyze customer data and provide personalized recommendations for products and services.
Agriculture:
AI is being used in agriculture to improve crop yields and reduce waste. It is being used in areas such as precision agriculture, crop monitoring, and pest detection. AI algorithms can analyze data from sensors and drones to monitor crops and detect problems such as pests and diseases. This can help farmers to take timely action and improve crop yields.
AI applications
1. Artificial Intelligence in Marketing:
Technology has created opportunity for marketing for a very large market of people. It has changed how people relate to information, technology, brands, and services. Advertisement most sought goal which is relevance at a larger scale is achieved because of artificial intelligence. The strategies have made popularity of brands easier and have provided solution to customer’s problems on the marketing platforms. It works on collecting data, applying logic to it in terms of patterns, profiles, search cycles and behaviors and taking the necessary actions in terms of advertisement and marketing. On the basis of this it decides which mechanism to use to attract a loyal customer. It strengthens bonds between entrepreneurs, business people and consumers. This is a very accurate and calculative approach. It also increases the targeted flow to the website.
Some peculiar applications of AI include:
- Improving the return on investment: Payment process are quicker because of high-level image recognition. Better decision making algorithms are provided on the basis of collected data which is based on patterns, profiles, search cycles and behaviors leading to better database and design. Security problems in online transactions are solved.
- Predicting the sales: The digital marketing trends are implemented when AI predicts the future trends of the market. The fluctuating market can cause change the way the business works.
- Effortless Search Sessions: The uses current sessions work well but can be quite perplexing. With AI working on digital marketing search engine and session get more efficient because they track user’s patterns, profiles, search cycles and behaviors which help in predicting future behavior and decision which could lead to finding accurate and better keyword. It could guide us to the usage of semantic keywords.
- Delivering to the right target audience gets easy: A brands importance is increased when it is delivered to the right people. AI-based digital marketing helps to achieve just that. It helps to get the best target audience for the brand by finding people on the basis of interests, demography and other aspects.
- Improvement in advertising: AI-based marketing create advertisement according to the audience’s choice and interest. AI designed for email marketing includes optimal, phrase and Persado. Platforms like InsightPool and Conversocial give deep insight and work with influences for social media marketing. AI-based predictive analysis is a type of data mining which analyses historical patterns and predict future patterns based on statistical models. Supply Chain Optimization by Walmart, forecasting price trends by hopper and staff retention predictive analysis by IBM.
2. Artificial Intelligence in Finance:
Finance is a part that governs everyone lives. The future of money just got more exciting because of artificial intelligence. The prospects for smarter trading, reduced risks, less damage, personalized experiences are heightened. E-commerce has gained its popularity in various amounts of field. With this online fraud increases drastically. In order to combat this AI has made a breakthrough in the finance department.
- Banking chat bots like Plum and Cleo helps in making a customer secure by addressing any queries they have. They help in tracking a consumer’s income, expenses and withdrawal.
- Algorithmic reading helps in investment funds and stock purchases by collecting and measuring data and figuring out patterns which are then analyzed to form live trades which are then used to calculate profit and loss.
- Mastercard has launched its own tool called ‘Decision Intelligence’ which keeps tracks of a customer’s spending usage which helps decrease fraud.
AI helps the finance sector in the following ways:
- Fraud Detection And Management: AI helps in tracking customer’s spending usage which helps decrease fraud by figuring any odd behavior that may have taken place such as using a card in one part of the country and within a few hours using it in some other part or withdrawing an unusual amount of money. Also, it learns from it experience and makes even more wise decisions
- Assessment of risks: In any business a person always wants to know what are the risks that are going to be involved. AI helps in gaining experience from past data. Since it is data driven and data dependent it helps in understanding the loan repayment habits of a customer, the number of loans taken at what point in time, number of cards etc. which can be used to find a reasonable interest rate for a large number of people.
- Financial Advisory Services: AI based robots work for single down payments at a time when people look forward to reduced commission on investments. Bionic advisory combine both human and AI calculations to provide efficient options as opposed to what they individually provide. It also helps in assisting in financial decision-making.
- Trading and investments depend on how much insight one has into the future.AI figure out past patterns and on the basis of that it predicts the future patterns. It can also cater to individual need by knowing each person’s wants and on the basis of that AI assists in making decisions on when to buy, keep and sell stock. One can also receive alerts on when the market is expected to fall and on the basis of that make a decision whether to stay in a market or not.
- Managing Finance: AI based wallet has developed on PFM (personal financial management). Wallet helps one make smart decisions while spending money by giving data on the person’s spending graph.
3. AI in Healthcare:
- Managing Medical Records and massive amount of Data : with the help of AI which help researchers locate area of focus for their own research. It could help find relevant insights by compiling and analyzing information. For example the discovery on the disease Amyotrophic Lateral Sclerosis (ALS) was made through a partnership between Barrow Neurological Institute and the artificial intelligence company IBM Watson Health. The later went through thousands of pieces of research and was able to identify new genes linked to ALS. Data management is broadly used application of AI and digital automation. It gathers, stores and trace data to give faster and more consistent access.
- Virtual nurses: In AI the patient’s conditions are monitored with the help of nurse bots or virtual nurses like Ly’s Molly which helps monitor patients conditions and investigate treatments while on a doctor visit. AI-based drug discovery software like atom wise uses the Deep Learning technique which creates medicine for life-threatening diseases such as Ebola by scanning through prevailing medication which could end the disease. In 2016 Boston’s Children Hospital provided data for Amazon Alexa which on questioning provided basic information about illnesses and symptoms to children and parents. It answers questions about medications and also tells if the symptoms require an appointment with the doctor.
- Drug creation: It can predict the result of drug treatments and how advantageous a drug is for a person providing highly personalized approach. Cancer patients are given the same drug and then observed to see the effectiveness of that drug. It can save prominent time and money as no clinical trials are required. AI-based drug discovery software like atom wise uses the Deep Learning technique which creates medicine for life-threatening diseases such as Ebola by scanning through prevailing medication which could end the disease in one day while analysis of this type and other methods could take months or years.
- Doing habitual Jobs: It is used in oncology to help detect abnormalities in X-rays and MRIs. In genomics complex processing is performed. Customized treatment is provided for every patient. It helps one obey their medication and encourages recovery by a motivational voice for fitness activities and healthy habits. It also helps one receives a sound feedback. Cardiology and radiology requires massive amount of data to be analyzed which can be time consuming. It is possible that in the future that cardiologists and radiologists only look at the most complex cases where human supervision is required. Microsoft (USA)- Apollo Hospitals(India) partnership is working on an AI focused network in cardiology. X-Rays, CT scans, data entry, analyzing tests and other mundane tasks can be done more rapidly and precisely with AI and robots.
- Personal life coach: As a part of overall care life coaching services are provided. It creates a personalized experience for each individual patient and alerts that can be sent to physicians.
- Healthcare bots: An AI application helps the patients with their requests, medication, billing, scheduling and other clinical requests. They offer 24/7 assistance for primary requests, develop customer service and reduce the administrative costs for hospitals.
- Personal health virtual assistants: They are extremely intelligent virtual assistant which when combined with healthcare apps can be used to deliver medication alert, patient education topic and human-like interactions to get insight into patient’s current mental state. They have an incredible impact on monitoring and assisting patients.
- Treatment Design: AI system analyze data consisting of reports from patient’s file, external research and clinical expertise to help get the individually customized treatment path.
- Digital consultation: AI Apps like Babylon in the UK provides medical consultation based on medical history of patient and medical knowledge. The database of illnesses is compared to the patient’s symptoms using speech recognition. The app then offers the recommended action.
- Medication Management: The National Institutes of Health have created the AiCure app for medication management. In this a patient taking their prescription is confirmed with the help of webcam. This helps them manage their condition. Patients who benefit from this app are patient with serious medical conditions, who go against doctor advice and those under clinical trials
- Precision Medicine: AI assists in body scans which can spot cancer and vascular diseases. It can help forecast the health issues that people might face based on their genetics and genomics as they look for mutations and relation to disease based on the information in DNA.
- Monitoring Health: FitBit, Apple, Garmin and others offer wearable health trackers which monitors heart rate and activity levels. User is provided with alerts to exercise more often. This can be shared with doctors and AI systems to analyze the needs and habits of patients.
- Healthcare System Analysis: In the Netherlands, 97% of healthcare invoices are digital. A Dutch company uses AI to highlight mistakes in treatments, inefficient workflow and avoiding unnecessary patient hospitalizations.
These are just some of the solutions that AI is offering the healthcare industry. Although full trust cannot be yet established towards AI for taking the lead in independently diagnose patient diseases but AI provides profound discovery and great ability to process data must faster than human. Until full trust can be established it is going to be a cautious and planned process.
4. AI for Automotive Industry:
Self-driving cars could reduce the deaths and injuries on roads. It could also provide lifestyle choices and people may have more freedom available while driving to do things they want.
- NVIDIA’s latest AI supercomputer for cars Drive PX Pegasus capable of bringing semi-autonomous driving to vehicles. It has high-end graphics processors that are ideal for processing complicated image information (like where pedestrians and stop signs are) in real time. Waymo’s driverless car tech has been able to navigate complex turns involving flashing yellow lights. The computer learned through simulations that it needed to inch forward to get ready to turn and that knowledge was applied to all vehicles for similar scenes. Intel has purchased an Advanced Driver Assistance System (ADAS) company, Mobileye, last year.
- Automotive manufacturing downtime will be decreased by using sensors and algorithms to constantly monitor equipment. Massive amount of data can be accumulated from vibration sensors. It can be used to detect anomalies, diagnose problems, separate mistakes from background noise and for predicting if a breakdown will occur. The Driver-Assist Features include automatic braking, pedestrian and cyclist alerts, intelligent cruise controlling systems and collision-avoiding tasks are being added.
- In the auto insurance industry adjusters use Tractable’s deep learning systems to simplify the triage process after a car accident. In this they use machine-trained estimates for repair costs, enabling agents to hasten a claim past triage and into repair, salvage or appraisal instead of manually scanning pictures. Equipment uptime could be increased by 20% because of preventive maintenance, reduce inspection costs by 25% and lower annual maintenance costs by 10%.
- As AI can detect defects 90% more accurately than humans, implement in demand forecasting reduce excess inventory by up to 50%.This will result in massive reduced cost.
- Transportation: NVIDIA based AI platform has been developed for smart cities called Metropolis which uses city’s cameras and intelligent video analytics (IVA) to manage traffic and making parking more resourceful leading to reduced pollution. It can also measure pedestrian flow and adjust traffic signals accordingly to reduce car congestion. It can trace roads for potential maintenance and also develop traffic incident reporting. It is already being used in California and Redwood City.
- Tesla has used direct sales model, software performance upgrades and autonomous driving features to make long-distance driving safer, convenient and less taxing.
- Google’s Waymo has collaborated with Fiat-Chrysler, Uber has its own autonomous vehicle programme. European truck makers are testing self-driving trucks. Audi touts its upcoming A8 as being ‘developed specially for highly automated driving’. Volvo will meets its self-imposed target of zero fatalities or serious injuries involving its cars by development in driver aids and autonomous technology. Even Ford announced itself as a technological company.
- Hybrid and electrical wheels have promised environmental protection and driver enjoyment which offers the vision of affordable and safe mobility. Driver assistive technologies such as lane departure warning, emergency braking, collision avoidance and blind spot warning are available now. Data on avoiding obstacles and collisions, what a driver does when faced with a certain situations, road networks and weather conditions is used to device algorithms. It recognizes drivers’ preferences and has self-learning diagnostic systems that warn of failures. It utilizes navigation systems that use real-time data and traffic modelling to make journeys shorter.
- There are four levels of autonomous control — from full manual control (Level 0) to full automation (Level 5). Currently, Level 2 (partial automation) is where most carmakers are at, with Audi and Tesla claiming Level 3 (humans may be expected to intervene in some situations) success.
5. Impact of Internet of Things (IoT) with AI :
In IoT one connects any device to the internet and to other connected devices. It elaborates how the connection of sharing impacts the environment. It does not need computer or human interaction and is dependent on internet connectivity. IoT has devices with inbuilt sensors connected to it which identifies the useful information and discards the unnecessary information. It can fix schedule variation, reset alarms, check varying weather conditions. Using sensor-orientation and voice recognition an IoT device may connect to a coffee machine and have it ready. Eg: WeMo Switch Smart Plug, Philips Hue Smart Bulb, Samsung SmartThings Hub, Kolibree Smart Toothbrush and Scanomat Top Brewer. It would observe the environment, correct the mistakes and auto correct operational glitches.
It is expected that IoT will connect ten times the devices to the internet by 2020. Its growth depends on how well it is able to manage the large amount of data that is produced. This data is about the customer, his/her behavior, etc.
With the help of AI data can be analyzed and this analysis can be used to extract Big data which helps AI become more intelligent by learning as it can handle enormous and complex data and also to enhance AI’s capacity.
Examples of AI and IoT: Amazon’s Web Services IoT (managed cloud platform), Apple Watch, Apple HealthKit, and the Apple HomeKit, Bosch’s IoT software suite
IoT has the power to overpower smartphones and tablets. This technology can be used in all spheres of life from domestic appliances, smart homes to robotics.
- In today’s world real time data is used for processing operations with the help of cloud based server and a centralized information center. With Fog Computing smallest parts of any device will have calculation metrics that would be able calculate risks, analyze situations and take the right steps on its own. This operation process would be sent to the cloud which will reduce the burden on the cloud data centers. Fog computing will make processing of data faster and easier. Reduced energy consumption will take place and businesses will have smarter appliances.
- In homes smart devices will be controlled with smartphones which would help in turning lights on and off, washing machines to wash and dry clothes and door to shut and open by analyzing human behavior with the help of Bluetooth, motion sensors and facial recognition.
- In the retail industry buyers will become more informed about products and will be able to find the exact size, color, fabric, price and other details with the help of smart voice assistants.
- In the manufacturing industry IoT will be able to report and correct flaws. 68 % of service teams in manufacturing sector are using IOT to perform smartly.
- In Telecom, chat bots address consumers queries about products and services
- It can reprogram critical cases in multinational companies
- A doctor will be able to scan through millions of cases and find ways to make a surgery more successful.
6. Transforming Education:
Education will become more personalized with AI tutors delivering knowledge at the student’s pace and on the level starting from where the students know how much.
In US students at Georgia Tech University were helped with a robot teaching assistant.
7. Help us be smarter about energy
It could reduce energy consumption to a large extent. Google and other high profiled technological companies use data centres which requires tremendous amount of energy to run the servers and then to keep the cool. Google has used Deep Mind(AI) which informs when the data centres are getting hot so that the cooling systems are only activated when required. It has save 40% energy at Google in the process.
8. Helping wildlife
Analyzing data can transform wildlife conservation by tracking animal movements, travel ad habitat and then figuring out the best places to create wildlife corridors.
9. Vision systems
It would analyze a visual input to figure out what it is. It can be used by a doctor in diagnosis, to see if the photograph is from an enemy area in military, to identify criminals.
10. Speech recognition
It recognizes the speech and understands a human talking by recognizing its voice. It has to be trained in all aspects like different accents, styles and tones, noise in the background and feeling poorly. The ability of the computer to understand a human talking to it. Eg: Honda CRV answers to a range of voice commands.
11. Handwriting recognition
This helps in recognizing a human handwriting and then converting into text that can be edited on computer. Eg: A teacher using a stylus can write on a smart board and then it can be converted into text.
12. Intelligent Robots
A robot can be programmed by a human to perform a particular task like bomb disposal, exploring dangerous environments. An intelligent robot has a large memory, large processors and different sensors. It can learn from its mistakes.
13. Algorithm driven AI will change the way humans work. AI will be subjected to more study and examination. As algorithms working with biases and inaccuracy can have tremendous impact on a larger scale and with higher velocity, AI has become a golden pursuit. Oracle is working on giving a tool to customers to build their own AI applications.
Google’s DeepMind is a neural network which can make connections and reach significance without relying on pre-defined behavioral algorithms.
Even if AI is a threat to human’s privacy, intelligence, security, existence and a lot of other things it will continue advancing because of the ease and comfort it offers or because the lazy mindset humans have to not do their own work.
14. AI And Quantum Computing:
Quantum computing will make AI more smarter, fluid, and human-like. All complex problem related to every sphere of life from the environment, war to poverty will be solved because of these super human machines Since the world lacks quantum resistant cryptography (QRC) to break the world’s digital security will be a cakewalk. As humans are dependent on algorithm for web security, quantum computers will be able to break down banking transactions, updates to phones, downloading application from app stores, downloading emails, and almost everything. Although it is quite beneficial but it is powerfully dangerous at the same time.
Challenges
- Algorithms are based on data. Any changes made to that data will change the behavior and outcomes.
- Any wrong step taken can transfer at a rapid pace causing large impact.
- “Almost anything bad you can think of doing to a machine-learning model can be done right now, ” said one expert at a recent AI conference in Spain. “And defending it is really, really hard.”
Benefits of Artificial Intelligence
- Less Errors and better precision
- Helping with daily activities
- Assisted digital help
- Work 24/7, 365 days/year and do not need holidays and breaks
- More precise and accurate
- They are not paid
- They can be used in dangerous places such as nuclear power stations as opposed to humans who can be in danger.
Disadvantages
- They can take many years to be established.
- Any misleading information or programming can accelerate a higher velocity.